TrendMiner, a Belgium-based visual data analytics technology spinout from KU Leuven, was acquired by software developer Software AG today for an undisclosed amount.
Founded in 2008 as D Square, TrendMiner has developed an online platform that enables diagnostic, visual and predictive analytics of process and asset data.
The platform is aimed at manufacturing and process industries, helping them detect inefficiencies and irregularities in production.
The technology is expected to complement Software AG’s existing internet of things (IoT) and industry 4.0 product portfolio.
TrendMiner most recently secured $1.1m in funding from the Innovation Fund in 2016.
Gemma Frisius Fund, a seed capital vehicle backed by KU Leuven, previously backed a $6m funding round in 2015 alongside Flemish government-owned investment firm PMV, LRM, Fortino Capital and private investor Jurgen Ingels.
Gemma Frisius, PMV and LRM had already invested $3.3m in 2010, after the Belgian government-owned IWT fund provided $1.9m in 2008.
Bert Baeck, CEO and co-founder of TrendMiner said: “At TrendMiner, we share Software AG’s vision for enabling organisations to fundamentally leverage the connected world.
“We believe every industry, but especially manufacturing and process industries, will be significantly transformed in this internet of things era.
“We are very excited with the opportunity to leverage the resources and proven IoT portfolio that Software AG delivers. Our ambition to become the Google for Industry will be accelerated due to Software AG.”
